Mortgage Professional America, Feb. 8, 2022–Richard TorneLarge scale investors have come under fire for reducing the supply of affordable homes for low and moderate income borrowers by buying up “large …
Category: Top National News
NewRez Lays Off 386 Following Caliber Acquisition
HousingWire, Feb. 8, 2022–Flavia Furlan NunesPowerhouse lender and servicer New Residential Investment Corp. has reduced hundreds of job positions in its mortgage division, less than a year after acquiring the …
Fannie Mae Settles Fair Housing Lawsuit for $53M
National Mortgage Professional, Feb. 8, 2022–David KrechevskyAgreement with coalition of fair housing organizations compensates for unequal treatment of REO properties in minority communities.https://nationalmortgageprofessional.com/news/fannie-mae-settles-fair-housing-lawsuit-53m
Americans Lever Up on Credit Card, Mortgage Debt Ahead of Higher Interest Rates
Yahoo! Finance, Feb. 8, 2022–Brian CheungTotal household debt increased by $333 billion to $15.58 trillion in the final three months of last year, according to the Federal Reserve Bank of …
Ginnie Issuance Continues to Slide
Inside Mortgage Finance, Feb. 8, 2022–Monica HoganNew issuance of Ginnie Mae MBS peaked in April 2021 and has been on an almost steady decline ever since, with the downward trend …
Why Realtors Have Embraced Brutal Honesty. ‘Smells Like a Farmtown.’
Wall Street Journal, Feb. 7, 2022–Jennifer Levitz (subscription)Lots of Americans have relocated during the COVID-19 pandemic, sometimes sight unseen. Real estate agents are doing some truth-telling in advance.https://www.wsj.com/articles/why-realtors-have-embraced-brutal-honesty-smells-like-a-farmtown-11644244699?
Manhattan Offices Face Reckoning as Older Buildings Get Left Behind
Bloomberg, Feb. 7, 2022–Natalie Wong, Jo ConstantzGlassy skyscrapers that have popped up in recent years are luring companies seeking new space and preparing for the hybrid-work era, a sign of …
How One Firm is Leaving the Telephone Behind
Mortgage Professional America, Feb. 7, 2022–Mark HollmerAgile Trading Technologies grew out of a desire to move away from the telephone. Specifically, its principals wanted to automate trades and transactions involving …
Santander to Begin Laying Off Mortgage Employees
HousingWire, Feb. 7, 2022–Flavia Furlan NunesPink slips will start arriving for Santander Bank’s employees working in the mortgage and home equity businesses following the bank’s announcement to stop originating such …
Elevated Bond Yields Approach Key Milestone
Wall Street Journal, Feb. 7, 2022–Sam Goldfarb (subscription)Friday’s blockbuster jobs report has pushed the yield on the 10-year U.S. Treasury note within reach of 2%, marking a major step in …